Cubits to help BTCGreece set up 1000 digital cash ATMs in Greece

Cubits, a bitcoin services provider founded in 2014, has collaborated with Greek exchange BTCGreece in order to set up 1,000 digital cash ATMs to help businesses deal with strict regulations implemented by capital controls, according to reports.

In an interview with CoinTelegraph, BTCGreece founder Thanos Marinos said:

"We are creating the ecosystem of bitcoin and blockchain solutions in the Greek market." He added, "That will include the rollout of 1,000 ATMs and solutions for the e-commerce and tourism industry. Partnering with best of breed companies in the bitcoin space will enable us to provide the Greeks with solutions that will ease the difficulties of the capital controls."

As a result of the Greek financial crisis, a number of companies were not able to pay their suppliers and partners outside of the country. Moreover, stringent capital controls froze bank accounts and credit and debit cards in the country for weeks.

Marinos said, "BTCGreece and Cubits are now offering a solution to small and medium-sized firms to maintain their operations, and pay their dues outside of the country without the limitations required by financial institutions under capital controls."